Tag: SYSPRO

The role of the Chief Financial Officer (CFO) in the manufacturing sector is undergoing a significant transformation. Traditionally seen as the gatekeepers of financial integrity and corporate compliance, CFOs in manufacturing are now finding themselves leading digital transformation initiatives.

Manufacturers and distributors are operating in intensely pressured times. Stats SA reported that manufacturing output contracted for the ninth consecutive month in February of 2020 with the full extent of the damage caused by COVID-19 and the nationwide lockdown still unknown.

The Fourth Industrial Revolution (4IR) can and will deliver South Africa from the jobs and growth crisis in which it is mired. That is the truism that is being widely peddled as the panacea to the triple threat of poverty, unemployment and inequality in which the country finds itself.

Implementing the right training and development programme can bring far-reaching benefits to a company. Upskilling employees is an investment that can yield significant returns for a company.

According to QuickBooks, there are already more than 700 apps that are assisting accountants to automate processes and reduce their workload. Gone are the days where accountants can be mere number crunchers, who collate and check data and allocate it to the correct cost centre. The future accountant will have transformed her/himself into a financial advisor, adding value to businesses by offering strategic advice, consulting and financial planning.

Exciting developments in enterprise resource planning provide us with a compelling snapshot of how the country is progressing with regards to digital transformation. Digital transformation was all anyone could talk about in 2018, a trend that will undoubtedly continue in the new year.